H.R. 7919

[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[H.R. 7919 Introduced in House (IH)]

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119th CONGRESS
2d Session
H. R. 7919

To amend the Internal Revenue Code of 1986 to provide a gasoline tax 
holiday.

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IN THE HOUSE OF REPRESENTATIVES

March 12, 2026

Mr. Pappas introduced the following bill; which was referred to the 
Committee on Ways and Means

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A BILL

To amend the Internal Revenue Code of 1986 to provide a gasoline tax 
holiday.

Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

This Act may be cited as the ``Gas Prices Relief Act of 2026''.

SEC. 2. 2026 GASOLINE TAX HOLIDAY.

(a) In General.--In the case of gasoline removed, entered, or sold 
on or after the date of the enactment of this Act and before October 1, 
2026--
(1) the rate of tax under section 4081(a)(2)(A)(i) of the 
Internal Revenue Code of 1986 shall be zero, and
(2) the Leaking Underground Storage Tank Trust Fund 
financing rate under section 4081(a)(2)(B) of such Code shall 
not apply to gasoline to which the rate under paragraph (1) 
applies.
(b) Transfers to Trust Fund.--
(1) In general.--The Secretary of the Treasury shall 
transfer from the general fund to the Highway Trust Fund 
established under section 9503(a) of the Internal Revenue Code 
of 1986 and the Leaking Underground Storage Tank Trust Fund 
established under section 9508(a) of such Code amounts equal to 
the reduction in amounts credited (but for this subsection) to 
each such Trust Fund by reason of subsection (a).
(2) Coordination rules.--
(A) Leaking underground storage tank trust fund.--
Amounts transferred to the Leaking Underground Storage 
Tank Trust Fund under paragraph (1) shall be treated 
for purposes of sections 9503(b)(1) and 9508(b)(2) of 
such Code as taxes received in the Treasury under 
section 4081 of such Code attributable to the Leaking 
Underground Storage Tank Trust Fund financing rate.
(B) Highway trust fund.--Amounts transferred to the 
Highway Trust Fund under paragraph (1) shall be treated 
for purposes of section 9503(b)(1) of such Code as 
taxes received in the Treasury under section 4081 of 
such Code which are not attributable to the Leaking 
Underground Storage Tank Trust Fund financing rate.
(c) Benefits of Tax Reduction Should Be Passed on to Consumers.--
(1) It is the policy of Congress that--
(A) consumers immediately receive the benefit of 
the reduction in taxes resulting from the application 
of subsection (a),
(B) transportation motor fuels producers and other 
dealers take such actions as necessary to reduce 
transportation motor fuels prices to reflect such 
reduction, and
(C) transportation motor fuels producers and other 
dealers that fail to reduce transportation motor fuels 
prices to reflect such reduction shall be subject to 
monetary penalties which are not less than the amount 
of the reduction in taxes which should have been passed 
on to consumers.
(2) Enforcement.--The Secretary of the Treasury shall use 
all applicable authorities to ensure that the benefit of the 
reduction in taxes resulting from the application of subsection 
(a) is received by consumers.
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